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Growing Your Small Business: The Checklist

Want to take your small business to the next stage of growth? Make sure you’re prepared by working through this 20-point checklist.

Do you have a formalised business plan?
Have you analysed your existing business data to identify current growth trends?
Are you confident you understand what is driving that growth?
Have you identified new potential areas or products to expand into?
Do you have market research that backs up your gut feel about those products?
Do you need to change or update your business structure?
Are there any regulatory issues that would block your expansion?
Are your existing premises suitable for your plans?
Have you identified sources of finance to help you expand?
Could you expand your business by franchising?
Who are your three biggest competitors?
Do you have a succession plan if you become unable to run the business yourself?
Do you have a disaster recovery plan to deal with outages and other emergencies?
Are all your business procedures documented?
Do you have regular training procedures for staff?
Do you have a mentor or business coach?
Do you have a detailed marketing and promotional plan?
Are you making full use of online platforms to promote your business, products and services?
Are your IT systems an effective support to your business?
Do you have an exit strategy for the business?